Managed print services statistics reveal that implementing a comprehensive print management strategy can have a significant impact on a company’s security, cost savings, and overall productivity. According to Sarah Lee, Senior Analyst at GHI Managed Print Services, “Managed print services can help businesses identify areas of improvement in their printing network and implement solutions to reduce costs and improve workflows.”
The Quocirca Print Security Landscape report of 2022 showed that a staggering 68% of companies have experienced a print-related data breach, highlighting the importance of having a robust print security strategy. In response to this alarming trend, 57% of companies have implemented managed print services to improve their security.
Apart from security benefits, managed print services can save up to 30% on total printing costs. By analyzing printing habits and consolidating equipment, businesses can significantly reduce their printing costs while improving the overall efficiency of their printing workflows.
Managed Print Services Statistics: Key Numbers
- Managed print solutions can save up to 30% on total printing costs.
- 57% of companies have implemented managed print services to improve security.
- Printing accounts for 1-3% of the average company’s revenue.
- Managed print services are capable of reducing carbon emissions by up to 60%.
- The managed print services market is now valued at approximately 50.78 billion and is forecast to reach 78.4 billion by 2029, with a CAGR of 9.4%.
- 68% of companies have experienced a print-related data breach.
- 70% expect print security spending to increase in the next 12 months.
- 80% of companies are unable to track printing costs by department or user.
Print Management Statistics: The Key Numbers
- 90% of companies do not keep track of their printing expenses.
- Businesses waste 14% of their revenue on documenting and printing.
- On average, 50% of IT help desk calls are print related.
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Managed Print Services Market
The managed print services market is now valued at approximately 50.78 billion and is forecast to reach 78.4 billion by 2029, with a CAGR of 9.4%, according to a Global News Wire press release by Blueweave Consulting.
The anticipated growth of the managed print services market in the upcoming years is significant, as predicted by several market research reports.
Allied Market Research revealed that the global managed print services market attained a valuation of $27,500 million in 2017 and is estimated to surge to $59,709 million by 2025, exhibiting a CAGR of 9.3% from 2018 to 2025.
MarketsandMarkets reported that the market is predicted to expand from USD 28.40 billion in 2016 to USD 50.78 billion by 2023, showcasing a CAGR of 8.5% between 2017 and 2023.
Furthermore, Maximize Market Research projected that the managed print services market size will reach US$ 94.34 billion by 2029, growing at a CAGR of 9.81% during the forecast period.
How much do managed print services save?
According to Marconet, Hilliardos, and Tomorrow’s Office, managed print solutions can save up to 30% on total printing costs.
For example, a case study by Marconet found that their managed print programs have saved businesses up to 30% of their printing costs.
Another source Tomorrow’s Office cites a Gartner study that found MPS can provide almost immediate savings of up to 30% on print-related expenses.
The Cost-Saving Potential of Managed Print Solutions
Managed print solutions can save up to 30% on total printing costs, according to multiple sources such as CDW, e-arc, Allcopyproducts, and Totalprosource.
By optimizing, overseeing, and automating print environments, businesses can reduce overall printing costs and gain back time by outsourcing their printing needs.
Managed print services can analyze usage and provide a cost-effective solution to bring unchecked print costs under control. Properly managed, a managed print services program can save customers 30%–40% on their printing and copying costs.
The Growing Importance of Managed Print Services in Enhancing Security
Managed print services are adopted by 57% of companies to bolster their security. They provide security in multiple ways, including by securing confidential documents, monitoring print activity, and ensuring compliance with regulations.
By overseeing every aspect of maintaining a company’s printers and copiers, a managed print services program can deliver advantages such as maintenance kits, expert help desk support, printer and driver installation, analytics, reporting, and more (Total Print USA).
Moreover, managed print services can aid in managing, securing, and optimizing the entire fleet of devices across a home and office workforce (HP). This guarantees that all devices are up-to-date, secure, and working efficiently, which contributes to a more secure printing environment.
What is the future of managed print services?
The future of managed print services (MPS) is expected to be influenced by several factors. Here are some insights:
Market expansion: According to a report by Market Research Future (MRFR), which was a press release on Global News Wire, the managed print services market will grow to USD 82.90 billion by 2030 at a 9.20% CAGR.
Industry adoption: Implementation of MPS in financial services, insurance, and banking accounts for a significant portion of the growth in this market, as suggested by Xass Journal. MPS is expected to bring a wide range of business benefits, with better service quality and reliability being the most valuable (Quocirca).
Evolving employment paradigms: Hybrid work trends suggest declining print service demand. Physical document reliance is dwindling in areas like banking and finance. Post-pandemic, digital documents are expected to dominate managed print services (MPS).
Eco-focused measures: Paper reduction efforts may impact MPS’s future.
Data safety issues: privacy concerns could influence MPS’s trajectory.
Despite challenges, MPS providers can streamline print environments, cut superfluous printing, and apply cost-saving practices (Global News Wire). Outsourcing print management to third-party providers can allow organizations to focus on core business operations.